MasterCard is a popular credit and debit card network known across the globe. MasterCard owned Maestro Card (MC), which was introduced to the market in 1991.
MC is a debit card, therefore, it is simply called Maestro Debit Card, this card is obtained from the associated bank and linked to the cardholder current account.
Meanwhile, operating your prepaid cards does not require a bank account. Maestro bank can be used at the point of sale (POS) and Automated Teller Machine (ATMs).
Maestro Card is accepted across Europe and many other countries. However, Maestro’s online payments are mainly done by Belgian customers.
How Does Maestro Card Work?
Before we move on to the other parts of this article, we need to understand how Prepaid Maestro Card works. Now, let take a look at how it works?
Maestro’s payment is processed as a credit card payment. In other to adopt this process, credit card payment must be activated or enabled within your MultiSafepay Control to process a Maestro payment.
Now, you need to submit a request to activate a credit card (MasterCard, Maestro, and Visa) your account manager. One thing you need to take note, Maestro Card payment is always validated with the 3D Secure Code. 3D Secure verification is deemed mandatory by Maestro.
Some Benefits of a Maestro Card
As a matter of fact and truth, this part of the article will highlight the benefits of this credit card.
====> This card is generally accepted, it can be used in stores across the globe
====> Your bank statements are sent via email or mobile, which helps one to keep an account of their monthly expenditure.
====> Maestro card can be used Offline and Online
====> Maestro cardholder does not have to carry a huge amount of currency.
====> There is no tension of month-end bills as the amount is debited directly from the bank account.
Maestro Card Prepaid Transaction Flow
Transaction flow is a term used to interpret the movement of money in the Maestro account from one place to the other. Sometimes, from sender to receivers, sometimes transaction decline and many more process. Transaction flow differs in payment processes or payment methods.
Maestro Order Status
The order status indicates the status of the order, such as Processing, Completed, Pending, or Rejected. The order status is independent of the incoming or outgoing payment of the transaction.
Maestro Transaction Status
In Maestro card, transaction status indicates the payment status of the transaction, such as Processing, Completed, Pending, or Rejected.
Once the transaction status is completed, the amount of the transaction is added to your Maestro Card account balance
The Difference, Similarities Between MasterCard and MC
Don’t forget we mentioned above, MasterCard owned Maestro card. Then, there must be some differences between these credit cards. Though one owned the other, in that case, please keep reading as you explore the major differences between the two credit cards.
Similarities Between Maestro and MasterCard
This part of the article will run through some of the common things between these credit cards. We will not waste much of your time, we will go straight to the points.
====>Both cards are widely accepted across the globe
====>Maestro card and MasterCard can be used to withdraw cash from ATMs
====> Both cards are bank cards
====>Both cards are part of the same company
====>Both cards are issued by MasterCard
====>Both cards is used for online transaction
Different Between Maestro Card and MasterCard
By now, we believed you are familiar with the similarities of these credit cards. Meanwhile, we cannot but run through the differences between the two credit cards.
====> MasterCard could be a credit card, debit card, or prepaid card while MC is a debit card of MasterCard
====> Maestro charge lower interest rate compare to MasterCard
====> MC is a branded debit card of MasterCard, in that case, is a debit card only
====> The maximum payment on MasterCard is limited, depending on many terms while maximum payment Maestro is the amount in the bank account associated with Maestro Card
====> Pins are used to completing a transaction on MC while pins and signature can be used to complete the transaction in MasterCard
====> MasterCard charge high rate of interest in financial dealing
How to Apply for Maestro debit Card
You have some knowledge about debit cards base on what you have been reading in the article. Now, you have been ruminating on how to get MC.
You will be able to apply for this debit card through various means. Whatever method you decide to apply for this card, you will surely get your card.
Online Application Process
You may apply for this card via the online portal. You can visit the official website of your bank. Mind you, you have an active account with your bank, either a saving or a current account.
You would have met the minimal document required for issuing the Maestro card documented in the bank. These documents are required for KYC compliance.
In that case, here is a list of documents commonly requested by the banks for prepaid Maestro Debit Card:
====> Proof of identity
====> Proof of residence
====> PAN card
====> Form 16 (only if PAN card is not available)
====> 2 latest passport size photographs.
Bank Application Process
You can as well apply for Maestro Card by visiting your bank. We are sure you have either a current or saving account with the bank. If not, you need to open one of the accounts with the bank. If you do, get in touch with the nearest branch of the bank to apply for Maestro Card.
Maestro Debit card Commonly Asked Question and Answers
This part of the article will try hard to provide possible answers to some questions asked about Maestro Card.
Is the Maestro Logo Printed on the Debit Card?
Yes, absolutely yes. The Maestro logo is embossed either on the front or on the reverse side of the debit card. If you apply for the card, you got the card but do not have the official logo of Maestro. Contact your bank for verification.
How can I know if My Debit Card has the Maestro Logo?
As mentioned above, the Maestro symbol is must show on either of your debit card. If it is not there, you can ask your bank representative and check if they have ties with the Maestro program.
Do I need to have a Good Credit Score to Get a Maestro Debit Card?
Though a specific credit score was not mentioned, we believe a good credit score may be put into consideration.
Meanwhile, you only need a bank account to get Maestro Card. Unlike credit cards, a credit score is not relevant for a debit card.
What steps can I take to Maintain the Secrecy of the PIN?
If at any time, you feel that the PIN has been inadvertently divulged to anyone or compromised in any other way, change it immediately. Make sure that the new PIN is unique. Avoid easy guessing PINs like sequential numbers.
I Have forgotten My PIN. I Am unable to Withdraw Money. What can I Do?
You can log on to the website of your bank and use the net banking services. This will allow you to change the PIN of your Maestro debit card
How can I Avail Maestro?
As a debit feature card, Maestro is a part of your personal savings or current bank account. If you have an account at any bank or financier that offers Maestro, you can get in touch with the nearest office and enquire about opening such an account.
Can I Link Multiple Accounts to My Maestro Debit Card?
Yes, it is possible to connect multiple accounts to a single MC. This facility may not be available with all banks. Check with your issuing bank if such a linkage is allowed.
What should I Do if My Maestro Card Gets Stolen or Lost?
If that happened, we suggest you get in touch with the concerned bank immediately and notify them about the incident.
You ask them to block your card temporarily in case you think it is misplaced. If you believe that it is not retrievable you can block it and get a new one with different security codes at a nominal fee.
If I entered the wrong PIN 3-Times at an ATM Machine. Will My Maestro Debit Card will be Blocked?
You should not enter the wrong PIN number more than two times, else your debit card will be blocked. A debit card is blocked if you enter the wrong PIN number3-times in a row.
This is a security measure taken by the bank to make sure the card is at the right hand. Resetting the PIN is an easy process, simply follow the instructions online or use the telebanking services.
What will happen if I try to Withdraw more than what is there in My Bank Account using My MC?
Mind you, this card is linked with your bank account. Once you try to withdraw more than what you have in your account, you will get a message saying you have an insufficient balance in your account.
In addition, all Maestro money withdrawals are subtracted directly from the cardholder’s bank account. Hence this can depend on the kind of bank account that you hold and the overdraft agreements that you have with your bank.
What is a Cash Back Facility?
Cash back on Maestro card depends on some retailers, some retailers offer the consumers to get cash for purchases made through debit cards. This is called a cash back facility. The amount of cash back depends on the retailers.
Is it Possible to make a Transaction of a higher Amount that is not Present in My Savings Account?
This is not possible. The Maestro debit card is linked to your savings or current account. It can only process transactions up to the amounts available in your account. However, you can check with your bank if it provides an overdraft facility. This can allow you access to additional funds in case of an emergency.